how does computerised accounting packages enhence productivity ?

Question

how accounting packages changes the productivity of organisations.

Answer 1

Computerized record storage and retrieval reduces the time necessary to enter, maintain, and analyze the records for a business. Inventory, Customers, Vendors, Sales, Purchases, Project Plans, Bills of Materials, Scheduling, etc. - All of these components can be entered into a single database, and used to maintain a business' operations. This can contribute to more streamlined operations, fewer data-entry errors, less time spent finding and more time using your business' data to help make more informed decisions.

If you're interested in adding a computerized accounting package to your business, find someone knowledgeable about such systems, and discuss your business with them. They will be able to recommend a system that is appropriate for your operation.

Systems range from under $100 to over $100,000, so make sure you know what you want and how it will help you before you begin investing money.

Answer 2

Accounting Packages Like Tally, Sure Make Life Easier When Running A Small Or A Medium Sized Business, As All Your Acoounting Details Can Be Found In A Couple Of Minutes, Rather Than Goin Through Tons & Tons Of Ledgers, & Books.

Answer 3

Computerized accounting packages enhance the productivity and efficiency of organizations by automatically computing and recording a business's every day transactions such as profit and loss, and make running a business much simpler because it performs the task of recording, calculating, reviewing and tracking transactions, giving a person more free time to focus on the business itself. Also, these programs show how much of each product is in stock, enabling automatic ordering of products if needed to restock. Also, you can preview how your business is doing by viewing its balance sheet, graphs, profit and loss reports, and other data which makes it easy to see exactly how it's doing and if you need to make any adjustments in order to increase productivity. I have been using QuickBooks, which is a great accounting program, also TurboTax is very good. Everything in these programs is automatically calculated once the data has been entered, so it saves plenty of time that you otherwise would have spent crunching numbers, which also means that there will be less errors.

Answer 4

By simplifying input and reducing errors. Anybody who has tried to manually post from journal entries to t-accounts is entirely too well aware of the possibilities for error, and the need for trial balances and other kludges to try to fix things. With a computerized system, you enter the data once, and the computer does all the accounting whenver you want, and if you make a mistake, you can fix ti once and everything which used the wrong number gets fixed automatically. You can also get almost all of the interesting reports just by asking for them, rather than constructing them by hand copying entries. I'm using Quickbooks; it isn't perfect, but it's pretty good.

Answer 5

Electronic Data fields and entries are much easier than filing cabinets full of unorganized or mishandled paper documents. These documents are important, yes, but that is also what a good Incremental Backup plan of Digital Data is for.
It increases and enhances productivity by allowing more free time to do the work rather than endless hours of filing documents in some archaic or user created filing system, like U is for You and M is for Money.
Streamlined interoperable data access by any that can read a help file or are use to and or familiar with the type of program used.
I know that with our Accountant useing Peach Tree and our Firm useing Intuit QB they do interact and communicate, next step for me is to launch the Linux Core Ubuntu and with a WINE app get all of them 'talking' in real time over a secure network.

Answer 6

Computerized accounting packages allow entries to not only be added but automatically calculated. When inventory records are kept through the software, ordering is much easier and quicker.

Using software allows for fewer mistakes, since on paper a mathematical error is difficult to find and changes the ongoing numbers.

It is also easier to check the numbers entered. Using the software for both billing and purchasing allows for checks and balances. Usually errors are found more easily.

Take care,
Troy

Answer 7

By decreasing the amount of manpower needed to accomplish the basic reporting requirements of company financials.

What used to take days can be done now with a computer in less then a second.

the overall orginzation and tracking abilities increase exponentially when a company goes from written to computerized.

Once a system is up, it is easy to train new additions to use it.

A lot of the packages now incorporate the ability to do electronic billing, which cuts down on postage and paper costs.

Answer 8

Mainly, accuracy and reporting.
You have to enter checks manually anyway, so by entering it a computer, you have also one place to store records as apposed to jumping from journal to journal
Other Benefits.
*IRS likes to audit the system not the details, if you have a system, people tend to trust it.
*You can get a balance at the push of a button, no calculator.
*You can ussually tranfer say quick books to most tax programs,making taxes a lot easier. And Payroll, Quarterlies, withholding can be automated, it is about 200% ROI.

Answer 9

Standardization, tractability, speed, survival depending on the size Org., less paper, quick and efficient communication throughout the entire value chain. "IT" packages are really it, no longer the exception but the norm. In a larger sense in order to create or maintain any kind of competitive advantage firms have to quite simply adapt.

Answer 10

They can automatise a lot of redondant work or boring work which would otherwise require man labour, so on the long term it's generally better to automate all that is possibly automatable in your company, including accounting.